Branch Manager, Insurance Office
Salary

Insurance Office Branch Managers who are practiced in their profession and carry more than 10 years of experience make up slightly less than two-thirds of Insurance Office Branch Managers. Pay fluctuates from $29K to $100K per year, but expected earnings average $49K per year. In the world of Insurance Office Branch Managers, total cash compensation ranges from $29K on the lower end to $100K on the higher end; this includes bonuses that reach $29K and profit sharing that approaches $10K in rare cases, with some high rollers snagging commissions as high as $25K. Although more than a third lack health benefits of any kind, the larger part do enjoy medical insurance, and more than two-fifths get dental coverage, too. Female Insurance Office Branch Managers make up most of the survey respondents at 76 percent. Job satisfaction is reported as high by the vast majority of workers. This report is based on answers to PayScale's salary questionnaire.

XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).

XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).

Job Description for Branch Manager, Insurance Office

An insurance office branch manager is the individual who is ultimately responsible for all of the operations of a specific office. They manage staff members in addressing customer claims and enrolling new customers by setting target metrics, giving performance evaluations, and providing staff members with training opportunities and guidance. Further, the branch manager also deals with any escalated customer service issues that may arise. The branch manager also performs several human resource functions such as screening applicants and hiring new team members.

On top of operational and human resource functions, the branch manager also performs several finance-related tasks such as managing budgets and (possibly) procuring funds for special projects. Additionally, the branch manager must always look for opportunities to increase sales by expanding their reach and networking with potential clients. The manager often reports directly to a regional manager, filing periodic reports that include sales figures, staff evaluations, market research, and budget analyses.

Insurance office branch managers usually hold a bachelor's degree and have several years of supervisory experience. Attention to detail and strong interpersonal skills are essential to succeed in this position. Due to fluctuations in customer demand, branch managers may need to work long hours and keep flexible schedules.

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This chart shows the most popular skills for this job and what effect each skill has on pay.

Survey results show that Insurance Office Branch Managers typically report just a few professional skills. Those who have experience with Insurance, Operations Management, and Customer Relationship Management can expect to be compensated well for these skills. Skills that are correlated to lower pay, on the other hand, include Customer Relationship Management and Operations Management. Those with knowledge of Insurance tend to be skilled in Operations Management as well.

Pay by Experience Level for Branch Manager, Insurance Office

Median of all compensation (including tips, bonus, and overtime) by years of experience.

Salaries for inexperienced workers average out to $43K, and those with five to 10 years' experience earn a higher median of $36K. Insurance Office Branch Managers see a median salary of $53K after reaching one to two decades on the job. Survey respondents who have worked for more than 20 years actually report somewhat lower incomes of $52K.